BS"D

Daytrading Course
Learn to Read the Tape
Exploit Pit Pivot Points
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PIVOT MAGIC TRADING JOURNAL - EXCERPT

Good morning,
We didn't witness the "... massive assault on the LT Trend Channel Floor
(Daily, bottom chart, green channel lines) . . ." that we expected on
Monday. We did, however squeeze out a few point on a breather-day Monday.

For Tuesday be double prepared for some overdue, wicked Price Action.

Enjoy and be well,

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Pivot Magic Trading
First rule:
"Any time you don't know what is happening, get out!"
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E-mini
Monday June 08, 2009

[SNIP]

3 = Coupled with the 1:45 attempt at S1 Resistance , this pair of 123 continuation "S" Signals (see 10-Minute,
middle right chart for a clear picture of the formation) make it a TTT attempt.

Volume jumps to life (pink arrow), and we get pulled in aggressively. Initial stop advances under the Low for
an instant "free trade" position! Nice.

C = Giant DVS (pink arrow) drives a giant white candle through the MidW, the contract high (plum line), and the
Close. When the spike through the Close retracts (>2 points) we call it a Pivot Scalp Exit and jump ship.
+/- 6.75 points

NOTE: The multiple exhaustion signs:

* DVS = exhaustion
* Giant candle = exhaustion
* Elongated top wick = exhaustion

Our Pivot Scalp Exit decision was well founded; even though the Bulls
rebounded for one more giant thrust, = D. The next candle spiked and
retraced > 2 points. The tape thus warned PMT readers of the tape out,
even before the Higher-High-Turns-Red PMT Exit Now! Signal completed.

PERSPECTIVE
(Daily, bottom chart)

Not much to add. The contract high (plum line) again defined the day's trading.
Again, the day candle taped a mighty spike through, but once more, the Bulls were
halted by the rock hard Resistance.

REMEMBER: Trade the tape, not my prognosis!

Asher
=] ;-)>
Pivot Magic Trading Course
http://www.tradingthingys.com/PMTJ/Commodity%20Day%20Trading.html

Monday's PMT Chart: